WVC 12 - 1 - 12 B
§12-1-12b. Cash Management Improvement Act; administration;
reports.
(a) The Cash Management Improvement Act of 1990, Public Law
101-453, October 24, 1990, 31 U.S.C. Section 6501 et. seq. (CMIA)
and regulations, as amended, establishes requirements and
techniques, including calculations, for the receipt and
disbursement of federal funds by states. The authorized official
and representative of the State of West Virginia for the CMIA is
the State Treasurer.

(b) In administering the CMIA, the State Treasurer is
authorized to do all things reasonably necessary, including without
limitation, entering into agreements with, negotiating settlements
with, refunding any interest due and satisfying any liability to
the United States Treasury in accordance with the CMIA.

(c) Periodically, the State Treasurer shall transfer to the
"Federal Cash Management Fund", which is hereby authorized and
continued, earnings on the State General Revenue Fund in an amount
the Treasurer estimates is needed to make refunds in accordance
with the CMIA. After each annual settlement with the United States
Treasury, the State Treasurer shall transfer to the State General
Revenue Fund any moneys remaining in the Federal Cash Management
Interest Fund for the period just settled.

(d) The State Treasurer shall also transfer periodically to
the "Federal Cash Management - Administration Fund," which is
hereby authorized and continued, earnings on the State General Revenue Fund in an amount the Treasurer determines is needed to pay
for the costs of administering the CMIA. The State Treasurer may
pay the costs he or she incurs in administering the CMIA from the
Federal Cash Management-Administration Fund.

(e) All state spending units shall cooperate fully with the
State Treasurer in accumulating all the necessary data elements to
fully comply with the CMIA.

(f) The State Treasurer shall send quarterly reports on the
activities involving the CMIA to the Governor, Auditor, Secretary
of Revenue and Joint Committee on Government and Finance.

Note: WV Code updated with legislation passed through the 2014 1st Special Session
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